MEMC Electronic Materials Inc. says it has signed contracts for four solar projects in Europe. The total capacity of the projects is 98 MW, including 60 MW in Bulgaria and 38 MW in Italy.
Cash received upon the closing of these transactions will be included in the company's second-quarter cash balances, although revenue recognition on the transactions will be subject to applicable revenue recognition rules, MEMC says, adding that more details will be forthcoming in the coming weeks.
